Investors are bullish, but this enthusiasm can not help cruise stocks to recover to their former levels immediately. It is possible that it will take years for them to fully recover, even if the companies can sail promptly later this summer. Tuesday became a big day for global stock markets: as investors’ optimism about the economic recovery after the coronavirus crisis is increasing, stocks are going up, with market indices hitting new records and going to highs they have not seen since March. Countries are gradually lifting restrictions, therefore the hopes for the soon getting back to traveling are increasing. Against this background, stocks of cruise companies rocket.Cruise StocksShares of British-Panamanian cruise operator Carnival Corp (NYSE: CCL) skyrocketed, gaining 12.59% by the
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Investors are bullish, but this enthusiasm can not help cruise stocks to recover to their former levels immediately. It is possible that it will take years for them to fully recover, even if the companies can sail promptly later this summer.
Tuesday became a big day for global stock markets: as investors’ optimism about the economic recovery after the coronavirus crisis is increasing, stocks are going up, with market indices hitting new records and going to highs they have not seen since March. Countries are gradually lifting restrictions, therefore the hopes for the soon getting back to traveling are increasing. Against this background, stocks of cruise companies rocket.
Cruise Stocks
Shares of British-Panamanian cruise operator Carnival Corp (NYSE: CCL) skyrocketed, gaining 12.59% by the end of the session on Tuesday and close at $16.28. In the pre-market today, Carnival stock is 11.66% up, at $18.19 per share. Royal Caribbean Cruises Ltd (NYSE: RCL) stock is also in the rally: it ended 14.88% up yesterday at $49.56 and is 8.90% higher in the pre-market now, at $53.97. Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) stock jumped by 15.32% on Tuesday, with a $16.03 price at the close. The company’s shares are further up in the pre-market, $18.09 at the moment of writing.
Debates over Cruise Companies’ Rebound
Cruise stocks rocket as investors are enthusiastic about the companies’ prospect to be able to sail again. However, a no-sail order is keeping ships in port now. As a result, there is a question of whether cruise companies can make it financially until getting back to sailing. Cruise operators have canceled voyages into the summer months, which means they now are paying for a dead horse, burning cash for fixed expenses without operating.
Investors are bullish, but this enthusiasm can not help cruise stocks to recover to their former levels immediately. It is possible that it will take years for them to fully recover, even if the companies can sail promptly later this summer.
Coronavirus Vaccine Stocks Race
Meanwhile, there is a race between biotech companies developing coronavirus vaccine. Their stocks are performing much better than cruise shares, but there is a tough competition between them as well. People don’t care which company will find the vaccine, they just want to prevent COVID-19 as soon as possible.
Coronavirus vaccine stocks are extremely sensitive to any news about COVID-19 vaccine progress. For example, Moderna Inc (NASDAQ: MRNA) stock rocketed by 23% last week after the company delivered positive data on the effectiveness of its vaccine candidate. However, as medical experts were sceptical about the exact value of the early findings, Moderna stock plunged. Then, Moderna promised to give only accurate data on its coronavirus vaccine trials, which boosted MRNA stock by 2.51%.
On Tuesday, Moderna stock closed 16.36% down at $57.71. In the pre-market today, it rose by 1.89% to $58.80.
Shares of Moderna’s rival Novavax Inc (NASDAQ: NVAX) are growing as the company is demonstrating progress in the vaccine development as well. Novavax started the first human study of its experimental coronavirus vaccine, which led to a 16% growth in the pre-market yesterday. Novavax stock closed at $48.17, in the pre-market today it is trading at $50.85, or 5.56% up.
Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.